Mortgages  

Tax grab on company purchases of £500k + homes

Tougher rules to prevent individuals from buying properties through corporate envelopes were outlined by the Chancellor of the Exchequer in the Budget and come into immediate effect.

Buyers will also face two new bands of the annual tax on enveloped dwellings, with properties worth between £1m and 2m liable for a £7000 charge from April 2015.

They will also be liable for capital gains tax from that point if they meet the critieria to ATED.

Article continues after advert

Those same taxes will also extend to ATED-qualifying properties worth between £500,000 and £1m the year after.